Tag: book keeping and accountancy

Questions Related to book keeping and accountancy

Goods were sold on credit basis to Mr. Ram for Rs $10,000$. It will be recorded in _______________.

  1. Journal Proper(General Journal)

  2. Cash Book

  3. Purchase Book

  4. Sales Book


Correct Option: D
Explanation:

Sales Book is a book in which non-cash sales are recorded with details of customer, invoice, amount and date; these details are later posted to each customer's account in the sales ledger.

Sale of Machinery by Mr. X, a dealer in stationery to Mr. Y for 120000 is recorded in _______________.

  1. Cash Book.

  2. Sales Book.

  3. Purchases Book.

  4. Journal Proper.


Correct Option: A

Goods brought in by the proprietor as his capital contribution are recorded in _______.

  1. Purchases Book.

  2. Cash Book.

  3. Journal Proper.

  4. None of the above.


Correct Option: C

A cheque of Rs.112 received from a debtor recorded twice in the cash book. When the balance as per Cash  Book is the starting point.

  1. Rs. 112 to be added

  2. Rs. 112 to be subtracted

  3. No adjustment is required

  4. None of these


Correct Option: B

Goods sold for cash were returned by a customer but cash was not given immediately. This is recorded in ______________.

  1. Sales Book.

  2. Sales Return Book.

  3. Cash Book.

  4. Journal Proper.


Correct Option: D

A cheque of 3500 received from P. K. Jain a customer, endorsed in favour of P. C. Jain, a supplier. It is to be recorded in _________.

  1. Three Column Cash Book.

  2. Journal Proper.

  3. Bills Receivable Book.

  4. None of the above.


Correct Option: B

A bill receivable of 1000, which was received from a debtor in full settlement for a claim of  Rs. 1100, is dishonoured. It is to be recorded in _______________.

  1. Purchases Return Book.

  2. Bills Receivable Book.

  3. Purchases Book.

  4. Journal Proper (General Journal)


Correct Option: D

Journal proper is issued to record __________.

  1. All purchases of goods

  2. All sales of goods

  3. All business expenses paid in cash

  4. All adjusting and rectification entries


Correct Option: D
Explanation:

A book maintained to record transactions, which do not find place in special journals, is known as journal proper. In order to update ledger account on accrual basis such adjusting entries are made at the end of the accounting period. such as rent outstanding, prepaid insurance, depreciation and commission received in advance. To rectify errors in recording transactions in the books of original entry and their posting to ledger accounts this journal is used.